Second-hand luxury in the epidemic and recession

As the number of people with new crown pneumonia infections continues to rise in many countries, many expectations that China can quickly end the new crown pneumonia epidemic have disappeared. Countries are now collecting medical equipment, and investors are wary of the global recession forecast.

The sudden outbreak of the new pneumonia virus quickly caused an inflection point in the consumer market.

As the number of people with new crown pneumonia infections continues to rise in many countries, many expectations that China can quickly end the new crown pneumonia epidemic have disappeared. Countries are now collecting medical equipment, and investors are wary of the prediction of a global recession.

New Crown Pneumonia Outbreak and Economic Recession                      

The global market has experienced its worst week since the global financial crisis in 2008. The impact of the new crown pneumonia epidemic on international travel and supply chains has raised concerns about the economic downturn in the United States and the regions that use the euro currency. The US stock market fell into the correction zone, the S & P 500 index fell more than 4%, expanding the market’s decline, and the US benchmark stock index has fallen by about 10% from the historical high reached on February 19.

Chris Rupkey, chief financial economist at Mitsubishi UFJ Financial Group (MUFG) in New York, said: “The market has made choices and said they believe the US is in recession.”

He said, “Frankly, at the current stage, because new crown pneumonia has disrupted the global supply chain and caused travel to slow down, it would be a miracle if we could avoid a recession.”

World Health Organization Director-General Tan Desai said that the number of new cases of new coronary pneumonia reported outside China exceeded the number of new cases in China for the first time. The current situation in Italy, Iran and South Korea is very worrying. Tandersee pointed out that all countries must be prepared.

Hunan Future Creative Technology Co.,Ltd.(Former name was Changsha Tianchuang Stage Costumes Co.,Ltd.)The company has been producing luminous costume for more than 10 years.We have incomparable & very rich experiences.Our products cover all over the world.

In the spirit of loving profession and keeping improving with positive attitude,after years of hard work,we have independently developed representative products in stage costumes field, such as special controller for costume, special mobile power supply for costume, special flexible LED strip for costume, and special programming&control software for costume.And has obtained a number of national patent.

However, the sudden outbreak of the new pneumonia virus quickly caused an inflection point in the consumer market.

According to statistics from consulting firm Bernstein, after the outbreak of the new pneumonia virus, the market value of European luxury listed companies has wiped out nearly $ 50 billion.